Texas Capital Bancshares, Inc. (NASDAQ:TCBI) – Jefferies Group increased their FY2018 earnings per share (EPS) estimates for Texas Capital Bancshares in a report released on Monday. Jefferies Group analyst C. Haire now anticipates that the bank will post earnings of $4.95 per share for the year, up from their previous forecast of $4.90. Jefferies Group currently has a “Buy” rating and a $104.00 price target on the stock. Jefferies Group also issued estimates for Texas Capital Bancshares’ FY2019 earnings at $5.40 EPS.
A number of other research firms have also commented on TCBI. ValuEngine raised shares of Texas Capital Bancshares from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. BidaskClub lowered shares of Texas Capital Bancshares from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. Stephens reaffirmed a “hold” rating and set a $84.00 target price on shares of Texas Capital Bancshares in a report on Thursday, July 20th. Zacks Investment Research lowered shares of Texas Capital Bancshares from a “buy” rating to a “hold” rating in a report on Friday, July 7th. Finally, Hovde Group lifted their target price on shares of Texas Capital Bancshares from $85.00 to $86.00 and gave the stock a “market perform” rating in a report on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $87.33.
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Texas Capital Bancshares (TCBI) traded down 1.47% during midday trading on Tuesday, hitting $83.95. The stock had a trading volume of 149,877 shares. The stock’s 50-day moving average is $79.38 and its 200-day moving average is $77.98. Texas Capital Bancshares has a one year low of $54.20 and a one year high of $93.35. The company has a market cap of $4.16 billion, a P/E ratio of 23.30 and a beta of 1.68.
Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings data on Wednesday, July 19th. The bank reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.03. The business had revenue of $201.73 million during the quarter, compared to analyst estimates of $197.10 million. Texas Capital Bancshares had a return on equity of 10.01% and a net margin of 21.84%. During the same period last year, the company posted $0.78 EPS.
A number of hedge funds and other institutional investors have recently made changes to their positions in TCBI. US Bancorp DE boosted its stake in Texas Capital Bancshares by 72.4% in the 1st quarter. US Bancorp DE now owns 3,821 shares of the bank’s stock worth $318,000 after purchasing an additional 1,605 shares during the period. UBS Asset Management Americas Inc. boosted its stake in Texas Capital Bancshares by 19.3% in the 1st quarter. UBS Asset Management Americas Inc. now owns 28,965 shares of the bank’s stock worth $2,417,000 after purchasing an additional 4,681 shares during the period. Karp Capital Management Corp acquired a new position in Texas Capital Bancshares in the 1st quarter worth $922,000. Parametric Portfolio Associates LLC boosted its stake in Texas Capital Bancshares by 1.7% in the 1st quarter. Parametric Portfolio Associates LLC now owns 79,629 shares of the bank’s stock worth $6,645,000 after purchasing an additional 1,331 shares during the period. Finally, Asset Management One Co. Ltd. acquired a new position in Texas Capital Bancshares in the 1st quarter worth $1,041,000.
In related news, insider C Keith Cargill bought 3,000 shares of Texas Capital Bancshares stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average cost of $74.15 per share, with a total value of $222,450.00. Following the purchase, the insider now owns 80,286 shares in the company, valued at $5,953,206.90. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.47% of the stock is currently owned by corporate insiders.
About Texas Capital Bancshares
Texas Capital Bancshares, Inc is a bank holding and a financial holding company. The Company is the parent of Texas Capital Bank, National Association (the Bank). It offers a range of loan, deposit account and other financial products and services to its customers. It offers a range of products and services for its business customers, including commercial loans for general corporate purposes, including financing for working capital, internal growth, acquisitions and financing for business insurance premiums; medium- and long-term tax-exempt loans for municipalities and other governmental and tax-exempt entities; wealth management and trust services, and letters of credit.
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